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For each transaction, drag and drop the correct account to debit and the correct account to credit (the dollar amounts are for information only): a)
For each transaction, drag and drop the correct account to debit and the correct account to credit (the dollar amounts are for information only): a) Bought land for 15,000 shares with a $35 per share market value. Debit Credit Paid six months rent in advance for a total of $6,000. Debit b) Paid insurance premiums for the year in the amount of $8,000. Debit Credit Credit Bought a building for $250,000. Paid one-fifth in cash and the balance with a 10-year, 6% interest d)note payable. Debit Credit Credit Purchased $20,000 of merchandise inventory on credit. Debit f) Paid utilities bill for $450. Debit Credit Sold $8,000 of merchandise inventory for $12,000 on credit. Debit g) Debit Credit Collected a $10,000 cash deposit from customers for custom orders. Debit h) Credit Credit Credit
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